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DRA Group joins hands with Philippines’ Balajadia family to launch $100-M real estate platform

Economic Times  

Chennai-based real estate developer DRA Group has partnered with the Philippines-headquartered Balajadia family to launch a USD 100 million (INR 870 crore) real estate platform, marking its first-of-its-kind partnership in the Indian real estate space with a Filipino investor group. The platform, a 50:50 joint venture, will focus on Grade A commercial (70%) and residential (30%) projects in Chennai and Bengaluru.The platform has set a development target of over 1 million square feet, with assets ranging from core central business district (CBD) plots to suburban growth locations. The firm’s first landmark project is a 60,000-square-foot retail development on Chennai’s OMR corridor.